The bank expects to open a commercial banking facility to serve the Silicon Valley within the first half of 2011.
Already the bank has commercial operations as far south as San Francisco and Walnut Creek, California, and in Oregon, Western Washington and Northern Nevada.
Umpqua offers a full line of commercial, treasury management and retail banking products and services.
Umpqua Bank executive vice president of commercial banking Cort O’Haver said the Silicon Valley is a strategic extension for Umpqua Bank’s commercial banking division. The region has the third largest concentration of public and private companies operating in the market and there is a limited presence of regionally based banks.
"We see tremendous opportunity in the Silicon Valley to extend our commercial banking services to regional businesses, assisting in their growth as the market recovers," O’Haver said.
Umpqua Bank has opened five new commercial banking facilities within the past 12 months and continues to explore new locations within and adjacent to its footprint. The Silicon Valley commercial banking center will be Umpqua’s first entry into the area.
